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§ 11A-124. Designation of project broker required to sell time-share in State

West's Annotated Code of MarylandReal Property

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 11a. Maryland Real Estate Time-Sharing Act (Refs & Annos)
MD Code, Real Property, § 11A-124
§ 11A-124. Designation of project broker required to sell time-share in State
In general
(a) It is unlawful for any developer to sell or offer to sell a time-share in this State unless the developer has designated a person as the project broker for the time-share project. The time-share project shall be considered a separate real estate office for purposes of the real estate licensing laws of this State.
Real estate broker license required to act as project broker
(b) It is unlawful for any person to act as project broker for a time-share project unless such person is a licensed real estate broker.
License required to sell, advertise, or offer to sell time-share
(c) It is unlawful for any person to sell, advertise, or offer for sale any time-share unless such person is a licensed real estate broker, associate real estate broker, or real estate salesperson, or is exempt from licensure under the Maryland Real Estate Brokers Act.1
Employees of developer or project broker
(d) Notwithstanding subsection (c) of this section, any person who is not a licensed real estate broker, associate real estate broker, or real estate salesperson may be employed by the developer or project broker to contact but not solicit, in person or by telephone, any person to attend any sales presentation concerning a time-share project, provided however, that the person so employed:
(1) Performs only clerical tasks;
(2) Merely arranges appointments induced by others; or
(3) Only prepares or distributes promotional materials.

Credits

Added by Acts 1984, c. 579, § 1, eff. Jan. 1, 1985. Amended by Acts 1985, c. 720, § 1; Acts 1988, c. 563, § 5; Acts 1989, c. 5, § 1.

Footnotes

Business Occupations and Professions, § 17-101 et seq.
MD Code, Real Property, § 11A-124, MD REAL PROP § 11A-124
Current through all legislation from the 2017 Regular Session of the General Assembly
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